Elliott waves analysis – We’re sellers towards 1.03

The British pound is currently heading to the lowerside. As long as the price remains below the two moving averages, we expect nothing but a possible momentum to the lowerside, the anticipated bearish price rally is the continuation of an impulsive wave count and will see the price rally towards 1.03 and will likely extend much lower. On this chart, while the price continues to make lower highs, only sell positions remains ideal and can safely be recommended towards 1.03.

We’re sellers towards 1.03